Catenaa, Tuesday, January 28, 2025 – Crypto asset manager Bitwise Asset Management has officially filed for a Dogecoin (DOGE) exchange-traded fund (ETF), according to Chief Investment Officer Matt Hougan.
The filing was submitted Wednesday (22) to Delaware’s Department of State’s Division of Corporations, marking a significant step in legitimizing the memecoin as a tradable asset.
The move comes as Dogecoin, the seventh-largest cryptocurrency by market cap at $54 billion, has gained renewed attention. Establishing the Department of Government Efficiency under President Donald Trump has further boosted DOGE’s profile, with the token’s logo appearing on the department’s website earlier this week.
Industry analysts have anticipated such a filing. “I’m surprised no issuer had filed for a Dogecoin ETF earlier,” ETF Store President Nate Gercai said on Jan. 15, adding that the effort might attract the attention of regulators and influential figures like Elon Musk.
This filing follows similar applications from Osprey Funds and Rex Shares, reflecting a broader push for crypto ETFs amid increasing demand. Bloomberg analyst Eric Balchunas noted that while Dogecoin as an ETF might seem unconventional, the rapid evolution of digital assets makes it a potential reality.
The US Securities and Exchange Commission’s newly formed crypto task force, led by Commissioner Hester Peirce, is expected to play a pivotal role in evaluating ETF approvals. Industry experts believe the task force could expedite the approval of ETFs tied to cryptocurrencies, including DOGE.
Dogecoin is currently trading at approximately $0.36. The market’s reaction to the filing remains to be seen, but analysts agree it signals increasing institutional interest in crypto’s unconventional assets.
